Investor Presentation - Prepared as of March, 2021 tribetech.com - Proactive Investors
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Investor Presentation
Prepared as of March, 2021
tribetech.com
Disclaimer TSX.V: TRBE
This presentation does not constitute an o er to sell, or a solicitation of an o er to buy, any securities of, or to engage in any other transaction with Tribe Property Technologies Inc. (“Tribe” or the "Company“) or any other person. None of the Company’s securities have been registered with or
approved or disapproved by the U.S. Securities and Exchange Commission or by any state or foreign securities commission nor has the U.S. Securities and Exchange Commission or any state or foreign securities commission reviewed or passed upon the accuracy or adequacy of this
presentation. No independent person has con rmed the accuracy or truthfulness of the information contained in this presentation, nor whether it is complete. Any representation to the contrary is illegal. The information in this document is not targeted at the residents of any particular country or
jurisdiction -and is not intended for distribution to, or use by, any person in any jurisdiction or counter-where such distribution or use would be contrary to local law or regulation. Tribe reserves all rights in and to this presentation. Presentation prepared as of March 31, 2021. Subject to change.
Cautionary Statement Regarding Forward-Looking Information.
Certain information contained in this presentation constitutes “forward-looking information” and “forward-looking statements” (referred to as the “forward-looking statements”), which is information regarding possible events, conditions or results of operations that is based upon assumptions
about future economic conditions and courses of action. All information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identi ed by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”,
“estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will”, and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. The Company has based these forward-
looking statements on its current expectations and projections about future events and nancial trends that it believes may a ect its nancial condition, results of operations, business strategy and nancial needs. In light of signi cant uncertainties inherent in the forward-looking statements
included in this fact sheet, the inclusion of such information should not be regarded as a representation by the Company or any other person that the Company’s objectives or plans will be achieved.
Forward-looking statements in this presentation include, but are not limited to, statements relating to: the real estate industry and the need for digital transformation; the Company’s expectations regarding its revenue and operations; the completion of the Gateway Property Management
acquisition (the “Acquisition”); the Company’s plans for and timing of expansion of its products and services; the Company’s future growth plans, including, but not limited to its M&A strategy and growth into new markets; the Company’s expectations regarding its revenue and operations; the
Company’s plans for and timing of expansion of its products and services; the Company’s ability to attract new clients and develop and maintain existing relationships; the Company’s ability to attract and retain personnel; the Company’s competitive position and its expectations regarding
competition; regulatory developments and the regulatory environments in which the Company operates; and anticipated trends and challenges in the Company’s business and the markets in which it operates.
Forward-looking statements are based on certain material assumptions and analysis made by the Company, and the opinions and estimates of management as of the date such statements are made and they represent management’s best judgment based on facts and assumptions that
management considers reasonable in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. The material assumptions upon which such forward-
looking statements are based include, among others, assumptions with respect to: growth plans; the continuation of demand for the products and services of the Company’s business; the ability of the Company to access nancing from time to time on favourable terms, a stable market and
general economic conditions; the ability of the Company to protect its intellectual property rights; the Company’s ability to retain clients and existing relationships; the ability to complete the Acquisition and integrate the Acquisition business; and the continuation of executive and operating
management, or the non-disruptive replacement of them on competitive terms. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Although the Company believes that the assumptions underlying
these statements are reasonable, they may prove to be incorrect and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking
statements.
Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to di er materially from the results discussed in the forward-
looking information, including, but not limited to, the following: the real estate industry may not experience a digital transformation; the Company may not meet its expectations with regards to its projected revenue; the Acquisition may not be completed; the Acquisition business may not be
successfully integrated; the Company may not continue with its M&A strategy; the Company may not experience increased revenue opportunities post-Acquisition; general industry and market conditions and growth rates; legislative and regulatory developments; general economic conditions
and levels of economic activity including interest rate uctuation; risks associated with reliance on key personnel, including but not limited to the Company’s senior management team; risks associated with implementation of growth initiatives; nancing risks; degree of competition in the industry;
changes in employee relations; dependence on information systems and technology; and the uncertainty surrounding the spread of COVID-19 and the e ect it will have on the Company’s operations and economic activity in general.
These risks, uncertainties, assumptions and other factors could cause the Company’s actual results, performance, achievements and experience to di er materially from the Company’s expectations, future results, performances or achievements expressed or implied by the forward-looking
statements. If the forward-looking statements prove to be incorrect, actual results might vary materially from those anticipated in those forward-looking statements. You are cautioned that the above list of risks, uncertainties, assumptions and other factors is not exhaustive, and there may be
other factors that the Company has not identi ed.
The forward-looking statements made in this presentation relate only to events or information as of the date on which the statements are made in this fact sheet, and accordingly are subject to change after such dates. Except as required by law, the Company undertakes no obligation to update
or revise any forward-looking statements included in this presentation, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to re ect the occurrence of future events.
Cautionary Note On Use of Non-GAAP Measures.
Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP measures as indicators to assess companies such as ours. They are intended to provide additional information and should not be considered in isolation or as a substitute for
measures of performance prepared in accordance with GAAP. Non-GAAP nancial measures do not have any standardized meaning prescribed under GAAP and therefore may not be comparable to similar measures presented by other issuers.
In this presentation non-GAAP measures include “Average Cost Per Lead”, “Average Cost per Community Acquisition” and “monthly recurring revenue (MRR)”. As noted, these non-GAAP measures have been included as indicators to assess companies such as ours. Similarly, the Company has
included non-GAAP measures for other comparable companies to assist investors in their relative assessment of our Company. There may be some variation in the method of computation of these metrics as determined by the Company compared with other companies. Investors are therefore
cautioned that as these measures do not have any standardized meaning prescribed under GAAP, the comparisons of non-GAAP measures included in this fact sheet should be used with caution.
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Overview TSX.V: TRBE
Tribe is a Prop-Tech company empowering
residential community living in cities.
Disrupting traditional Condo and Rental Management by
offering Tech-Enabled Property Management.
6th largest condo 6th largest rental History of M&A: Managing 39,595+ One of the fastest
management company management company 5 acquisitions-to-date homes in Canada with growing PM companies
in Canada in Canada solutions that help all in Canada
types of multi-family
residential communities
Sources: https://issuu.com/riccardo11/docs/cpm_whoswho_final https://issuu.com/riccardo11/docs/cpm_march_2019_whos_who 3
Overview TSX.V: TRBE
Tribe Property Technologies (Tribe) is a property technology company disrupting the traditional property management industry. Tribe’s integrated service-
technology delivery model serves the needs of developers, condo/residential communities and owners/residents versus traditional property management.
Tribe is a one-stop-shop for residential community living.
Disrupting an Industry People-focused model enables the provision of additional value-added products and services that improve the experience
of residential community living from smart building technology and building automation to in-home services
Fully integrated digital platform that services a wide variety of stakeholders which lowers customer acquisition costs and
Leading Digital Platform increases stickiness leading to a low churn rate
Proven Acquisition Track Record Purchased five companies to date, in a fragmented market that can be acquired at service multiples
Strong growth profile with revenue growth from less than $3 million in 2018 to $16 million forecast in 2021, with monthly
Strong Financial Performance recurring revenue comprising a majority
Community living has increased almost 10x between 1980 and 2019 and accounts for over 70 million people. Payments of
Rapid Market Growth over $90+ billion were collected from owners in communities in 2019 (1)
Large insider ownership that aligns shareholders and management, led by an executive team with hyper-growth, tech,
Experienced Management Team product, capital markets and property management expertise and supported by an experienced and influential Board of
industry leaders
*This does not include rental community maintenance. HOAs are planned multi-family communities requiring management.
(1) Source: Community Associations Institute National Staistical Review for 2018 4
Milestones
Q4-2020 Q1-2021 Q1-2021+
Major inancing closed Second close Execute M&A strategy
Tribe Property Technologies Tribe Property Technologies Tribe Property Technologies
completed a brokered private completed an upsizing of the has announced the Gateway
placement financing of private placement financing
TSX.V acquisition to all stakeholders,
$11,629,920 announced on
December 11, 2020.
that closed and disclosed on
December 11, 2020. This ICON
TRBE
and has embarked on a path
to integration.
second close of a large Israeli
pension fund came in at $1.7
million, for aggregate total
gross proceeds of
$13,329,920.
Q4-2020 Q1-2021
Major Gateway Public Listing
acquisition closed
Tribe Property Technologies is
Tribe Property Technologies
ICON closed on a $10 million
acquisition of Gateway
ICON listed on the TSX Venture
Exchange under TRBE. ICON
Property Management,
bringing with it a footprint in
BC, Alberta and Ontario and
making Tribe the sixth largest
strata/condo and 6th largest
rental management company
in the country. (1)
(1) Sources: https://issuu.com/riccardo11/docs/cpm_whoswho_final https://issuu.com/riccardo11/docs/cpm_march_2019_whos_who 5
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Our Management Team TSX.V: TRBE
Joseph Nakhla Jim Defer John Tims Fiona Therrien Scott Ullrich
CEO CFO Corporate Secretary Executive VP Management Executive VP Rental
Previously COO TIO Previously SPUD.ca, Services and Managing Broker Management Services
Networks Canopy Growth Corp.,
DDS Wireless
Allen Kwok Maureen McMahon Ken Axenty Jennifer Laidlaw Kieran Coffey
VP Engineering Executive VP Human VP Finance Services VP Marketing and Head of Product
Resources Communications
6
Our Board TSX.V: TRBE
Joseph Nakhla Raymond Choy Charmaine Crooks Andrew Kiguel Mike Willis
CEO and Director President and Board Member President and Director of CEO Tokens.com and Tribe Director and
of Peterson Group NGU Consultants Inc. Co-Founder Hut8 Mining Strategic Advisor
Joseph founded Tribe in 2011 Raymond is the President and Charmaine is the President and Andrew is currently the Mike is currently an advisor
and has been overseeing its Board Member of Peterson founder of NGU Consultants co-founder and CEO of providing strategic consulting
operations and expansion Group, a real estate investment, Inc., providing global strategic tokens.com. Previously he services to high-growth
since. Prior to this, he was the development, and property advisory and corporate was the co-founder and CEO businesses. He formerly served
Chief Operating Of cer of TIO management company. development services to of Hut8 Mining, a publicly as CFO of Westport Fuel
Networks, a former TSX listed a variety of sectors. listed bitcoin miner. Systems (TSX/Nasdaq) and
company that was acquired Gevo (Nasdaq) and worked in
by Paypal. various capacities within the
Virgin Group.
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Communities are Growing, so are Opportunities TSX.V: TRBE
1980 2019 Assessments
Number of communities and individuals Number of communities and individuals More than $90 billion is collected and contributed
in the US that are stratified or members in the US that are stratified or members by homeowners to councils and HOAs* annually.
of a community association. of a community association. These funds go towards professional
management services, utilities, security, common
area maintenance and capital improvement
projects.
36,000 communities 344,000+ communities
9.6 million residents 70+ million residents $90+ billion changed hands in 2018
*This does not include rental community maintenance. HOAs are planned multi-family communities requiring management.
*Source: Community Associations Institute National Statistical Review for 2018
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What are Today’s Challenges with Community Living? TSX.V: TRBE
Lack of Lack of Consistency
Communication in Service Industry
Communities are becoming more
complex and inter-connected
than ever before.
Traditional property management faces challenges
within its current environment.
It is struggling to keep up with community needs, market
growth and technologies that enhance community living.
Paper-Based Shortage of
Residential community living is still waiting
for its digital transformation.
Licensed People
Lack of Transparency +
Oversight
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Our Solution - Technology Enabled Management TSX.V: TRBE
We’re simplifying the complexities around residential
community living with tech-enabled Community
Management like nothing else in the market.
+ + + +
Digital Owners Digital Marketplace for Arti icial Digital Shared Day-to-Day
Engagement and Owners and Intelligence Services for Management
Information Access Communities Communities
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fAccelerating Growth - M&A Strategy TSX.V: TRBE
The company is positioned to execute on an aggressive • 13,000 property management
companies servicing the market in
M&A opportunity of Property Management and Step 1: North America*
Prop-Tech companies in North America Acquire • Buy them at service multiples
Traditional
Upon acquisition, Tribe has developed an M&A playbook implementing the • Paper-based, with no centralized
PM
tech-forward collaborative strategy aimed to: data, very little growth or retention
• Arti cial Intelligence
Streamline Processes Step 2: • Digitization of Operations
Digitize • Streamlined Processes
Improved Communications
Acquisitions
•
Expand Into New Markets
• Tech-Enabled Management
Organic Growth and • Organic Growth
New Revenue Streams Step 3:
• Increase Revenue/Customers
Derive
Results • Increase Retention
Lower Management Costs • Introduce New Revenue Streams
and Increase Revenues
• Signi cantly Improve Pro tability
*Source: Community Associations Institute National Staistical Review for 2018
https://www.ic.gc.ca/app/scr/app/cis/businesses-entreprises/53131 11
fi
fi
fiCommunity Lifecycle and Tools TSX.V: TRBE
Sales Centre Digital Content
Disclosure Statement and Budget
Amenities Design for New Communities
Deficiency and Warranty Management App
Digital Manuals App
Lease-Ups and Rental Management
Property Management Using Resident and Back-Office Software
Resident Education (Management 101) Via Digital Content
Post-Occupancy Digital Management
Year Year Year Year Year Year Year
-2 -1 1 2 3 4 5+
Building Building Building
Construction Completion Operations
12The Value Proposition to Our Broad User Base: TSX.V: TRBE
Community Living Simplified
Owners Councils Property Landlords Developers Trades
& Boards Managers
• Trackable Communication • On-Demand Access • More Efficient • Organized Data • Tools to Track • Easier Access
• 24/7 access • Important Records Processes and Tools • Easy Payments all Deficiencies between Trades,
• Community Information and Documents • Ability to Focus • Improved Tenant • Access to Building Data Service Providers,
• Building Health • Full Transparency on Service Relationships • Digital Owners’ Manuals and Communities
• Payment Options and Accountability • Improved Industry • Improved Workflows • Seamless Hand-Over to
• Exclusive Offers • Communication Reputation Management Team
Records
13Revenue Opportunities TSX.V: TRBE
Tribe has a direct relationship with owners,
residents and buildings. Through service
excellence, we unlock value. Unit 832
Mortgage
Unit 740
Internet
+ Cable
Sub-Metering
Unit 526
Insurance
Unit 418
Unit 302 Unit Sale
Rent
Lobby Lobby
Water Food
Detection Delivery
14TAM and In-Home Spend TSX.V: TRBE
Other Mortgage
(Not Monetizable) Interest
$21,000 $8,202
We are curating a best-in-class service
marketplace to connect vendors and residents
and offer value-added products and services to Condo Fees
our Owners and Communities: 15% $3,000
• Leverage group-buying on pre-approved home products Maintenance
such as mortgage, insurance, cable, internet and more + Repairs
6%
$1,689
• All of this through an integrated payment processing solution 39% 3%
Household
2% Operations
$1,230
3%
Why? - Condo Marketplace by the Numbers:
Furnishings
• More than $90 billion annual maintenance in North America (1) 13% $1,817
• $53K per condo/year average spend (2)
12% Food at Home
Extended 6% $6,820
Warranty
$200
Insurance Entertainment
*Chart shows In-house spending and individual unit penetration with community platform (Other) $3,088
$6,665
(1) Source: Community Associations Institute National Staistical Review for 2018 This does not include rental community maintenance.
(2) Source: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110022201 15Communities’ Digital Adoption TSX.V: TRBE
- 75% -
of our clients said that our online
communication platform has been
Start an important communication tool
during the pandemic.
38 %
2 76 %
months
88 %
6
months Registration in Brand New Buildings
Start
51%
2 66%
months
74%
6
months Registration in Existing Buildings
16Communities and Clients TSX.V: TRBE
Shangri-La Silver Sea Woodward’s One Harbour Green Waterfall + Starling
17Footprint TSX.V: TRBE
Canadian Footprint:
• Top 6 Condo Management Company Nationally*
• Top 6 Rental Management Company Nationally*
• One of the largest Residential Rental Managers in BC
• Developer Relationships across the Country
• Big Institutional Footprint
• Primary Targets: Toronto, Montreal
• Secondary Targets: Edmonton, Winnipeg
US Target Markets:
• Seattle
• Los Angeles
• San Francisco
• Boston
• Chicago = Tribe
• New York
• Miami = Potential
Targets
*Sources: https://issuu.com/riccardo11/docs/cpm_whoswho_final https://issuu.com/riccardo11/docs/cpm_march_2019_whos_who 18The Numbers TSX.V: TRBE
Tribe's unique tech-based approach is attractive to the market, feeding growth, especially through Covid.
PRESENT PRE-COVID
Average Cost Per Lead: $113 $306 (Jan 2020)
RFPs Win Percentage: 44 % 35% (Jan 2020)
(that we choose to respond to - based on suitability of community)
Average Cost per Community Acquisition: $1,791* $2,433 (Jan 2020)
*numbers above calculated for 2020, pre-major Gateway acquisition
We manage more than $195M of annual budgets on behalf of our Communities.**
We collect $460M in rent on behalf of our Clients.**
** numbers include recent major Gateway acquisition
19Revenue Analysis TSX.V: TRBE
Consolidated Revenue - Post Acquisition (000’s)* Average MRR per Community
CY2021F MRR/Community Communities
$16,000
Revenue 700 $2,400
Gross Margin %
Average MRR per
$8,526 576
$2,200
Communities
0
Community
00
$2,000
9,
452
$1,800
328 Acquisition
$4,187 $1,600
$3,090 204 $1,400
$1,965 80 $1,200
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FY2018 FY2019 FY2020 PF-FY2021
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Consistent growth of MRR per Community while growing the total revenue of the company
Homes + Communities Managed Homes vs Communities MRR* Growth (* Monthly Recurring Revenue)
Homes Communities Managed
Revenues Homes
700 40,000
42,000 $1,250,000
Communities Managed
Monthly Revenues
545 30,500
32,000
$850,000
Homes
Homes
390 21,000
22,000
Acquisition
Acquisition $450,000
235 11,500
12,000
80
2,000 $50,000
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*Company has changed year-end to Dec 31 from April 30 effective 2021. 20Capitalization Table TSX.V: TRBE
Directors +
Management
#M Industry 23.9%
+ Strategic
Basic Shares Outstanding 15.9 Investors
Options / Warrants (1) 1.2 51.8%
Fully Diluted 17.1
$M
Public Listing
Working Capital 6.0 Investors
16.5%
(1) Average strike of options $4.16 per share
Other
7.7%
21TSX.V: TRBE
One-Stop Shop.
One of the fastest growing residential community management companies in Canada.
Tech-enabled Community Management like nothing else in the market.
A direct relationship with owners, residents and buildings.
Aggressive M&A strategy in a fragmented market.
Thank You.
Contact
Kin Communications
IR@tribetech.com
tribetech.com
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